Barclays CEO C. S. Venkatakrishnan discusses the British bank's third-quarter earnings.
Barclays PLC (NYSE:BCS ) Q3 2024 Earnings Conference Call October 24, 2024 4:30 AM ET Company Participants C.S. Venkatakrishnan - Group Chief Executive Angela Cross - Group Finance Director Conference Call Participants Jason Napier - UBS Benjamin Toms - RBC Chris Cant - Autonomous Edward Firth - KBW Guy Stebbings - BNP Paribas Amit Goel - Mediobanca Chris Hallam - Goldman Sachs Alvaro Serrano - Morgan Stanley Robin Down - HSBC Perlie Mong - Bank of America Merrill Lynch Andrew Coombs - Citi Group Operator Welcome to Barclays Q3 2024 Results Analyst and Investor Conference Call.
Higher revenues driven by solid IB performance, stable expenses and lower credit impairment charges support BCS' Q3 earnings.
Barclays PLC (LSE:BARC) reported a 16% increase in profit for the third quarter, beating forecasts, and raised some elements of its full year outlook. Group income of £6.5 billion in the quarter was up 5% on a year ago, with its investment bank delivering the strongest growth.
British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations.
Barclays' third quarter profit rose 18%, it said on Thursday, as its investment bank cashed in on a jump in corporate dealmaking and trading during the period, echoing Wall Street rivals.
Barclays is next off the banks' rank following Lloyds' solid start on Wednesday
Jeffrey Bernstein, Barclays analyst, joins 'Money Movers' to discuss which types of restaurants are stabilizing the best, if traffic is the answer to restaurant woes, and much more.
Barclays PLC (LSE:BARC) has re-started talk Brookfield about a sale of a stake in the merchants part of its payments business to the Canadian fund manager according to Sky News. The UK bank, which reports third-quarter numbers on Thursday, is looking at divesting a majority stake having failed to sell the whole business earlier in the year.
Banks in the UK have the best outlook of all those based in Europe, according to analysts at Panmure Liberum ahead of the start of the third quarter reporting season tomorrow. European banks have been the best-performing sector this year with total returns of more than 30%, notes the broker, helped by earnings upgrades during the year.
Citi analysts have highlighted Barclays PLC (LSE:BARC) and the London Stock Exchange Group PLC (LSE:LSEG) as top picks in the investment banking and exchanges sectors, respectively, in preparation for the third-quarter earnings season. Citi noted generally bullish third-quarter trading trends, with analysts stating: “The third quarter saw healthy capital markets volumes, buoyed by a number of events including shifting expectations on timing and magnitude of Fed cuts, the (Bank of Japan) pivot and on China stimulus package.
Julian Mitchell, Barclays managing director, joins CNBC's 'The Exchange' to discuss US-Mexico tariff winning and losing stocks, what higher tariffs could mean for the economy, and more.